-LRB- CNN -RRB- There 's big . And then there 's bigger .

Introducing Triple Deuce , set to be the world 's biggest superyacht at a whopping 222 meters -LRB- 728 feet -RRB- long .

At $ 1 billion , it will also be the most expensive private yacht ever built , costing more than the annual GDP of Western Sahara , the British Virgin Islands , and Micronesia .

The identity of Triple Deuce 's owner remains secret . Nonetheless , building a yacht of this size is all about `` boasting rights , '' said Craig Timm of 4Yacht , broker of the record-breaking project .

`` It 's just like the competition to build the world 's tallest building , '' he said of the commission , due to be completed in spring 2018 .

`` Project Deuce will cost $ 1.1 billion to $ 1.2 billion , '' added Timm . `` And do n't forget to add in annual operating costs -- on a yacht of this size , it will run the owner up an additional $ 20 to $ 30 million per year . ''

The boat will be more than 131 feet -LRB- 40 meters -RRB- longer than the world 's current biggest superyacht , `` Azzam , '' believed to be owned by the President of the United Arab Emirates , Sheikh Khalifa bin Zayed Al Nahyan . It will also trump Russian businessman Roman Abramovich 's `` Eclipse '' by 192 feet -LRB- 58.5 meters -RRB- .

`` Our client was concerned that if we built the yacht to 200 meters -LRB- 656 feet -RRB- , then someone would come along like Roman Abramovich when he built Eclipse at 163.5 meters -LRB- 536 feet -RRB- , and outdid Sheikh Maktoum 's yacht , the 162-meter -LRB- 531-foot -RRB- Dubai , by only 1.5 meters -LRB- 5 feet -RRB- , '' explained Timm .

`` By building the yacht to 222 meters -LRB- 728 feet -RRB- , the owner wants to make it difficult , if not impossible , to be ` eclipsed ' himself . ''

As the race to build the world 's biggest superyacht steps up a notch , is there a point when these floating palaces simply become `` too big ? ''

`` You ca n't really be ` too big ' for the high seas . But these superyachts are now at such a size that many of them ca n't get into harbors , '' said John Kampfner , author of `` The Rich : From slaves to superyachts , a 2,000 year history . ''

`` So what they do is moor out at sea , and a small boat -- which is still enormous by the standards of ordinary mortals -- will take them to shore . Or they could always jump on their helicopter , because no self-respecting superyacht comes without a helipad these days . ''

In the past two decades average superyacht sizes have more than doubled , according to Gaelle Tallarida , managing director of the Monaco Yacht Show .

`` Fifteen years ago a large yacht was 45 meters -LRB- 147 feet -RRB- , '' she said . `` Whereas now it 's 100 meters -LRB- 328 feet -RRB- long , maybe even a little more , '' she said .

`` And I think we have still not achieved the limit . ''

Triple Deuce 's master suite alone encompasses two stories and stretches across 275 square meters -LRB- 275 square feet -RRB- -- including a private gym . The seven-deck superyacht also comes with two pools , numerous jacuzzi , and a hair stylist and barber .

Yet in a global climate of `` haves and have-nots , '' is it morally justifiable to spend $ 1 billion on a private yacht catering for 36 guests ?

`` To be honest , what ordinary mortals think is ` moral , ' is not actually relevant to these people , '' said Kampfner .

`` You have to understand that we 're not talking about the top 1 % -- in this instance we 're talking about the 0.01 % . This is a tiny group who live in their own bubble , they mix only among themselves . ''

Timm sees things differently , pointing to the employment opportunities created during the building and running of the superyacht .

`` The boat will take approximately two to three million human hours to build -- not counting all the worldwide subcontractor hours , or the ready-made items already available on the market ready to be installed on the yacht , '' he said .

`` Building the yacht at the shipyard will directly employ , at the minimum , 500 people for a period of three years . These people , who have families to support and feed , will be gainfully employed .

`` And this does not include the 50 to 70 people who will work on the yacht and will be employed full time by the yacht owner , as well as others who supply the yacht . ''

He extends this reasoning to the media -- `` You , the journalist , benefits from this build indirectly by being gainfully employed by CNN for writing this story . ''

And you , the person reading this story ? Kampfer sees the public 's interest in the lifestyles of the super rich as a type of luxury porn .

`` There is an enormous sense of injustice which is shared not just by the poor , but also by the middle class , towards the global super rich , '' he said .

`` But together with that however , is a sense of envy and ogling . So whether you call it confusion , or double standards , or hypocrisy , or whatever it might be -- we both abhor the lifestyles of the super rich and at the same time we are endlessly fascinated by them . ''

Photo gallery : Spectacular superyachts of the future

Experience : Secret life of a superyacht stewardess

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Introducing `` Triple Deuce , '' the world 's largest superyacht at 728 feet -LRB- 222 meters -RRB- long

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Will also be most expensive private yacht on the planet with $ 1 billion price tag